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Retailers were having a tough time even before the pandemic, and a notable number of companies waved the white flag as COVID-19 decimated not just retail but other parts of the global economy ...
The following table illustrates the impact of the pandemic on key economic measures. February 2020 represented the pre-crisis level for most variables, with the S&P 500 stock market index (a leading indicator) falling from its February 19 peak. From February through June, the number of persons with jobs was down 14.6 million.
The Pandemic Emergency Purchase Programme (PEPP) was a monetary policy initiative launched by the European Central Bank (ECB) in March 2020 to mitigate the economic impact of the COVID-19 pandemic. Its primary goals were to maintain price stability, ensure favorable financing conditions across the eurozone, and safeguard the transmission of ...
A report Monday from S&P Global Market Intelligence said June saw 75 filings, up from 62 in May and above the pandemic-era peak of 74 in July 2020. The year-to-date total of 356 bankruptcy filings ...
The chain filed for its second bankruptcy and liquidation on August 7, 2019, [13] closing the remaining 54 stores [14] with plans to auction its intellectual property. [15] ALDO filed for bankruptcy on May 7, 2020, citing repercussions related to the COVID-19 pandemic as to why. [16] The shoe chain emerged from bankruptcy two years later. [17]
Only three retailers filed for bankruptcy in the second half of 2021 versus 20 in the same period in 2020, according to a report from BDO. There were no new retail bankruptcies filed from mid ...
The COVID-19 recession was a global economic recession caused by COVID-19 lockdowns. The recession began in most countries in February 2020. After a year of global economic slowdown that saw stagnation of economic growth and consumer activity, the COVID-19 lockdowns and other precautions taken in early 2020 drove the global economy into crisis.
The failure of the 178-year-old travel firm Thomas Cook will force the British government to execute its largest repatriation in peacetime history.